Daewoong Pharmaceutical Acquires $48 Billion Convertible Bonds from US Evolus

[Asia Economy Reporter Minji Lee] Daewoong Pharmaceutical announced on the 7th that it has acquired convertible bonds of Evolus, a company selling botulinum toxin in the United States, in cash. The total acquisition amount is 48,016 million KRW, which corresponds to 7.55% of the company's equity as of last year. The bond's nominal interest rate is 3%.

The company stated, "This is to improve the financial structure of our business partner and to strengthen the business partnership."